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AUDUSD, Elliot Wave Analysis

10/19/2022 10:32 AM

A fall is possible.

On the daily chart, the first wave of the higher level (1) formed, and a downward correction develops as the second wave (2), within which the wave C of (2) forms. Now, the third wave of the lower level iii of C is developing, within which the wave (iii) of iii is forming, and a local correction is developing as the wave (iv) of iii. If the assumption is correct, the AUD/USD pair will fall to the area of 0.6091–0.5900. In this scenario, critical stop loss level is 0.6551.

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